1. **Problem Statement:** Calculate the Average Product of Labor (AP_L) and Marginal Product of Labor (MP_L) from the given Total Product (TP) data. 2. **Formulas:** - Average Product of Labor: $$AP_L = \frac{TP}{L}$$ where $L$ is units of labor and $TP$ is total product. - Marginal Product of Labor: $$MP_L = TP_L - TP_{L-1}$$ which is the change in total product when labor increases by one unit. 3. **Calculations:** - For $L=1$: $$AP_1 = \frac{5}{1} = 5$$, $$MP_1 = 5 - 0 = 5$$ - For $L=2$: $$AP_2 = \frac{12}{2} = 6$$, $$MP_2 = 12 - 5 = 7$$ - For $L=3$: $$AP_3 = \frac{21}{3} = 7$$, $$MP_3 = 21 - 12 = 9$$ - For $L=4$: $$AP_4 = \frac{36}{4} = 9$$, $$MP_4 = 36 - 21 = 15$$ - For $L=5$: $$AP_5 = \frac{50}{5} = 10$$, $$MP_5 = 50 - 36 = 14$$ - For $L=6$: $$AP_6 = \frac{66}{6} = 11$$, $$MP_6 = 66 - 50 = 16$$ - For $L=7$: $$AP_7 = \frac{66}{7} \approx 9.43$$, $$MP_7 = 66 - 66 = 0$$ - For $L=8$: $$AP_8 = \frac{56}{8} = 7$$, $$MP_8 = 56 - 66 = -10$$ 4. **Explanation:** - Average product measures output per unit of labor. - Marginal product measures the additional output from one more unit of labor. - Notice MP peaks at $L=6$ and then declines, becoming negative at $L=8$, indicating diminishing returns. 5. **Final Table:** | L | TP | AP_L | MP_L | |---|----|------|------| | 0 | 0 | - | - | | 1 | 5 | 5 | 5 | | 2 | 12 | 6 | 7 | | 3 | 21 | 7 | 9 | | 4 | 36 | 9 | 15 | | 5 | 50 | 10 | 14 | | 6 | 66 | 11 | 16 | | 7 | 66 | 9.43 | 0 | | 8 | 56 | 7 | -10 |